contestada

1. Mitch Hart's gross pay for this week is $425.78. He is single and claims 2 6 points

allowances. Using the percentage method of withholding, what amount

will Mitch's employer withhold from his pay for federal income tax?

Percentage Method of Withholding - Single Person

Each weekly allowance is $63.46.

Weekly Taxable The amount of income tax to

Wage

withhold is

Over But not

over

$51.00 $195.00 S0.00 plus (10% of the excess

over $51.00)

195.00 645.00 $14.40 plus (15% of the excess

over $195.00)

645.00 1482.00 $81.90 plus (25% of the excess

over $645.00)

Respuesta :

ajeigbeibraheem

Using the percentage method, the amount that Mitch's employer is going to withhold is $29.979

  • The total wage payment usually received by Mitch monthly is = $425.78
  • Each weekly allowance is $63.46,
  • It is noted that Mitch claims two allowances = $63.46 × 2
  • = $126.92

Now, the amount subject to withholding from his total wage payment is;

  • = $(425.78 - 126.92)
  • = $298.86

Provided that the weekly taxable wage is more than $195 but not up to $645; Then, by using the percentage method, the Federal income tax can be computed as:

  • = 15% of $(298.86 - 195) + $14.40
  • = 15% of $103.86 + $14.40
  • = $15.579 + $14.40
  • = $29.979

Therefore, we can conclude that the amount that Mitch's employer is going to withhold is $29.979

Learn more about taxable income here:

https://brainly.com/question/17347618?referrer=searchResults

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